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To Bitcoin Or Not To Litecoin

There are three different crypto currencies that are capturing the attention of the world. Determining which is the best is a common activity. Understanding just a little about each can help determine which is the best for you.

BitcoinIt is the oldest of the crypto currencies. It is also the most common of the three crypto currencies. It is the only one that is currently being accepted as payment in everyday commerce transactions either online or in brick and mortar locations. It has a limited supply of 21 million bitcoins. The current amount of bitcoins in circulation is approximately 16.70 million bitcoins.

LitecoinLitecoin closely resembles Bitcoin. It was created to be the alternative for Bitcoin. Litecoin's mining system is less complicated than that of Bitcoin. The result is quicker confirmation time of 2 1/2 minutes compared to the 5 minutes it takes for a Bitcoin confirmation. There is a limited supply of 84 million Litecoins of which 53.99 are in circulation.

EthereumEthereum is a different type of crypto currencies compared to Litecoin and Bitcoin. It operates with a blockchain-based, open-source platform. This platform results in providing a smart contract function. This means that Ethereum can be used as a currency as well as a share or a vote. The supply of Ether, the name of the individual unit, is unlimited. There is a annual distribution limitation of 18 million Ether.

Among the three currencies, Bitcoin is currently the most valuable. However, the multiple functions of Ether result in more corporate support.